Topic: BMO

Investment firm BMO Capital Markets was the latest to increase its Apple price target this week in the face of the stock's huge gains, which are forecast to continue with the success of the iPhone 6 and upcoming launch of the Apple Watch.

Apple's stunning first quarter of fiscal 2015 blew virtually every prediction out of the water, and left Wall Street analysts rushing to increase their price targets on Wednesday as the stock jumped higher.

With Apple widely expected to launch a wearable "iWatch" later this year, market watchers have begun to speculate exactly how many wrist-worn devices the company could sell, with one new projection pegging the device with at least 10 percent penetration among iPhone users in the first full year.